Goa govt clears 10 industrial projects involving Rs 217 crore investment

Panaji: Goa chief minister Pramod Sawant on Tuesday announced the approval of 10 major industrial projects involving an investment of Rs 217 crore, with the potential to generate 914 jobs in the state. He said the Goa Investment Promotion Board (IPB) is also examining the possibility of offering customised incentives to large industrial units investing more than Rs 100 crore in Goa.“The board approved 10 new projects spanning diverse sectors such as aviation and adventure tourism, food processing, automobile and mobility, packaging, tourism and hospitality, logistics, electronics, and toy manufacturing,” Sawant said.IPB also reviewed proposals submitted under Goa Industrial Growth and Investment Promotion Policy, 2022. Three major industrial houses have approached the govt seeking special incentives.Vedanta Ltd has proposed a Rs 722 crore project to manufacture ductile iron (DI) pipes, which is expected to create 585 jobs. 3B Advanced Composites announced an expansion plan worth Rs 1,500 crore in glass fibre manufacturing, with the potential to generate 1,000 jobs. Siemens Ltd has proposed a Rs 363 crore medium-voltage switchgear manufacturing unit at the Verna Industrial Estate, creating 182 jobs. These three projects account for a total investment of Rs 2,585 crore and are expected to generate 1,767 jobs .“These three proposals were cleared earlier, but the companies have now approached the govt seeking customised incentives,” a govt official said. “Under the 2022 policy, investments exceeding Rs 100 crore are eligible to seek SGST refunds, production-linked incentives, and employment-linked incentives.”IPB officials said further discussions will be held, taking into account the state’s fiscal position and inputs from the finance department, before a final decision is taken in the coming meetings.Emphasising govt’s commitment to industrial growth, Sawant said the administration is focused on providing transparent and time-bound clearances. “This is a signal to new investors that Goa’s doors are open,” the official said, adding that the quantum of incentives is yet to be decided.